Reclaiming PPI from Halifax (Loan)

[loulou32]

Hi,

 

I've used this site in the past (for charges reclaim) and I am now back with my PPI problem!

 

Basically, took out a loan with the Halifax in 2005 and included PPI. Didn't realise at the time that I didn't need it, the guy on the phone made it sound like it was vital to get my loan authorised, I wasn't told that it was optional, didn't know I could get it for £6 per month elsewhere blah blah blah.

 

When I found all this out, and realised that it was an extra £1700+ on top of my loan amount and interest which is nearly £50 a month I called the Halifax and asked for it to be removed from the loan. They told me the only way to do this would be to refinance - which would incur more interest etc. I'm now paying back the capital sum so there's no way I'm doing that!

 

Wrote to the Halifax telling them I was mis-sold for reasons above (and others found on another money advice website). They told me they're allowed 8 weeks to reply...I'm not impatient so I waited...10 weeks. Just for them to tell me there's no complaint to answer. They did not answer all of my points re; mis-selling and more importantly the fact that it's £44 more expensive per month than their closest competitor.

 

Now I have to go to the FOS if I want to take my complaint further.

 

Is this all sounding about right to you, or am I missing some vital steps?

 

Thanks in advance for your assistance!

[alanfromderby]

Sounds fairly normal - have a good read of the material in the stickies. You can take the FOS route if you wish - but you may also want to consider the court route.

 

You can claim 8% on the £1700, and each interest payment, from the date the amounts were applied until the date of payment.